abstrak：Saphyre, a financial technology services company, said yesterday that Standard Chartered's Capital Markets division has joined the roster of financial institutions utilizing the Saphyre platform for new fund onboarding and maintenance. Saphyre offers AI-driven solutions to pre-trade and post-trade concerns.
SC has joined the Saphyre platform to manage and enroll new funds.
Saphyre received $18.7 million in Series A investment last month.
Saphyre, a financial technology services company, said yesterday that Standard Chartered's Capital Markets division has joined the roster of financial institutions utilizing the Saphyre platform for new fund onboarding and maintenance. Saphyre offers AI-driven solutions to pre-trade and post-trade concerns.
Saphyre's recent announcement comes roughly 5 weeks after the fintech business secured $18.7 million in a Series A fundraising round headed by HCAP Partners. J.P. Morgan and BNP Paribas, two of the world's largest financial institutions, also participated in the investment round.
Saphyre said that by removing human processes for both buy- and sell-side teams, their automated method decreases risk and inefficiency. As a consequence, the procedure improves overall efficiency and aids in cost reduction.
Gabino Roche, Saphyre's CEO and Founder stated: “It's an honor to publicly announce that Standard Chartered has joined the Saphyre team. They implemented our system early on and have since noticed efficiencies for their middle and back-office processes during account installations, as well as positive comments from their customers. Buy-side enterprises benefit from operational advantages and faster time to market by incorporating them into the network.”
Technology Adoption
Standard Chartered has intensified its efforts in recent months to assist its customers with technology-driven solutions. The financial services business made numerous hires earlier this year, including a worldwide head to manage digital strategy.
Standard Chartered's latest agreement with Saphyre intends to streamline the fund onboarding process. “Standard Chartered has been partnering with Saphyre on offering straight-through processing of account settings to expedite the time to market and enable instant liquidity, as well as smooth post-trade allocations and settlement,” Saphyre said in a recent news release.
Since its inception in 2017, the fintech firm has earned over 100 awarded patents.
